UK Budget: Welfare Cuts and Tax Rises Loom

EconomyUK BudgetWelfare CutsTax RisesIFS

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What's Happening?

The UK government is considering welfare cuts and tax rises to help balance the budget.
The Institute for Fiscal Studies (IFS) has suggested £22bn in cuts and tax rises to plug a potential shortfall in government finances.
Options could include scrapping the pensions triple lock and limiting growth in spending on special educational needs.

Why Is This Happening?

Rising borrowing costs, weaker productivity forecasts, and previous welfare U-turns have led to a sharp downgrade in the budget outlook.

Economy
UK Budget
Welfare Cuts
Tax Rises
IFS

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